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0/13 Using lots of Netflix examples, I’ve taken what I learned in 25 years of product management & wrote a blog series. Here are 12 exercises on “How to Define Your Product Strategy.” Each link takes you to a different exercise. Here’s the intro: #prodmgmt bit.ly/2yiYe4x
1/13 “The DHM Model.” Frame potential product strategies by answering the question, “How will you Delight customers in Hard to copy, Margin-enhancing ways?” I outline 8 ways that companies can build hard to copy advantage. #prodmgmt bit.ly/32X3fOf
2/13 “From DHM to Strategy.” You have ideas about how to delight customers, to build hard to copy advantage and many experiments to deliver revenue/profit. Combine these ideas to form potential product strategies. #prodmgmt bit.ly/2YsoM1Y
3/13 “The Strategy/Metric/Tactic Lockup.” Form a list of 4-6 product strategies, then define a proxy metric against each strategy, along with potential tactics (projects) for each strategy. #prodmgmt bit.ly/2LQMOy3
4/13 “Proxy Metrics.” How to define proxy metrics against each strategy to determine if your strategies move your high-level product metric. (For Netflix, the “True North” product metric was monthly retention, and we had many proxy metrics.) #prodmgmt bit.ly/2MjDaTS
5/13 “Working Bottom-Up.” If the above, top-down approach isn’t working, outline all the projects you think are important, then sort them to identify “themes.” These are likely your de facto product strategies. #prodmgmt bit.ly/2SJrTgC
6/13 “A Strategy for Each Swimlane.” So far, I’ve focused on the overall product strategy. But each “pod” or “swimlane” should define its own product strategy, too. #prodmgmt bit.ly/2Zi8PZo
7/13 “The Product Roadmap.” A roadmap is an artifact of your product strategy and helps the team to see how everything fits together. But don’t take it too seriously. The plan will change a lot, based on experiments that succeed and fail. #prodmgmt bit.ly/2GvWdXq
8/13 “The GLEe Model.” Force yourself to think long-term & to think big. Both are required to build an “anything is possible” mentality to dent the universe. Answer 3 questions, 1) How Get big? 2) What Lead next? 3) How Expand from there? #prodmgmt bit.ly/2OnjRvm
9/13 “The GEM Model.” A frequent source of misalignment: teams have competing ideas about how to prioritize Growth, Engagement, and Monetization. This model helps teams to get their stories straight. #prodmgmt bit.ly/2Y96BiK
10/13 “The Quarterly Product Strategy Meeting.” The strategy shouldn’t live in an ivory tower. Here’s how to keep it front & center to ensure both fast-paced learning & results. Plus, double-down on things that work, and cut things that don’t. #prodmgmt bit.ly/31221zH
11/13 “A Case Study: Chegg.” In 2010, I joined Chegg, the textbook rental and homework help startup. Here’s how I applied the tools and models at Chegg. (Chegg went public in late 2013 and now has a $5B market cap-- Woot!) #prodmgmt bit.ly/2OwfcaS
12/13 “Executive Summary: Step by Step Exercises to Define Your Product Strategy.” No time to read? This essay has all the exercises in one place, along with links to pre-formatted Google Slides to define your product strategy. #prodmgmt bit.ly/2ygaYZN
13/13. Appendix: “Shared, Pre-formatted Product Strategy Slides.” No time for an executive summary? Here’s a direct link to the Google Slides with all of the exercises to build your product strategy. (I can’t make it any easier for you!) #prodmgmt bit.ly/32Ya02n
